Mineral Exploration.Coal Business May FAIL,IF It EVER Starts.
''Currently, our coal business operations are limited or non-existent. There can be no assurance that we will be able to effectively manage our limited operations or expand operations in the future.''
''Because our management team has no experience in mineral exploration and does not have formal training specific to the technicalities of mineral exploration, there is a risk that our coal business may fail.
The members of our management team have no experience operating a mining company and do not have formal training as geologists, engineers or in the technical aspects of management of a mining company. As a result, our management’s decisions and choices may not take into account standard engineering or managerial approaches that mining companies commonly use. In addition, we will have to rely on the technical services of others with expertise in mining in order for us to exploit our properties. If we are unable to contract for the services of such individuals, it will make it difficult and maybe impossible to pursue our business plan. Consequently, our operations, earnings and ultimate financial success could suffer irreparable harm due to management’s lack of experience in this industry.''
'' During 2012, we entered into a variety of transactions in order to develop a commodities sector of our business. We have entered into a joint venture arrangement and we have established a new entity with J Mining & Energy Group for the purchase and trading of coal. As of May 8, 2014, these coal operations have not yet developed.''
THIS IS 4TH 1/4 2014,WHERES THE REVENUE?????
''Expected Acquisition of Five Mile Mine
As previously announced, NewLead has entered into a separate agreement for the acquisition of title and coal excavation rights for the Five Mile mine located in Kentucky, USA with 7,695 mineral acres. The Company has received a reserve report compliant with the U.S. Securities and Exchange Commission ("SEC") methodology for the mine acquisition which states that the mine contains eight million tons in actual proven coal reserves.
The Company estimates that the mine will begin generating revenue in Q4 2013. The Company estimates that the acquisition will be concluded in Q4 of 2013, but the acquisition is subject to a number of terms and conditions and there is no assurance it will be consummated.''
AI
